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Invesco California Value Municipal Income Trust
VCV

48 hedge funds and large institutions have $51M invested in Invesco California Value Municipal Income Trust in 2017 Q2 according to their latest regulatory filings, with 2 funds opening new positions, 14 increasing their positions, 16 reducing their positions, and 5 closing their positions.

New
Increased
Maintained
Reduced
Closed

1.95% less ownership

Funds ownership: 10.45% → 8.5% (-2%)

6% less funds holding

Funds holding: 51 → 48 (-3)

13% less repeat investments, than reductions

Existing positions increased: 14 | Existing positions reduced: 16

17% less capital invested

Capital invested by funds: $61.1M → $51M (-$10.1M)

60% less first-time investments, than exits

New positions opened: 2 | Existing positions closed: 5

Holders
48
Holders Change
-3
Holders Change %
-5.88%
% of All Funds
1.2%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
2
Increased
14
Reduced
16
Closed
5
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
LCM
Laurion Capital Management
New York
+$796K
2
Creative Planning
Creative Planning
Kansas
+$341K
3
UBS Group
UBS Group
Switzerland
+$339K
4
Commonwealth Equity Services
Commonwealth Equity Services
Massachusetts
+$193K
5
SG Americas Securities
SG Americas Securities
New York
+$135K

Top Sellers

Rank Fund Capital Flow
1
LPL Financial
LPL Financial
California
-$3.71M
2
LCM
Landscape Capital Management
New Jersey
-$2.96M
3
Bank of America
Bank of America
North Carolina
-$2.23M
4
Fiera Capital (Canada)
Fiera Capital (Canada)
Quebec, Canada
-$1.18M
5
MIG
Mariner Investment Group
New York
-$1.01M
Name Holding Trade Value Shares
Change 		Change in
Stake
Stifel Financial
26
Stifel Financial
Missouri
$273K -$126K -10,000 -32%
WT
27
Whittier Trust
California
$255K – – –
Royal Bank of Canada
28
Royal Bank of Canada
Ontario, Canada
$192K -$75.5K -6,000 -28%
WS
29
Wedbush Securities
California
$190K +$25.2K +2,000 +15%
PWSG
30
Pacific Wealth Strategies Group
California
$190K +$62.9K +5,000 +50%
RJFSA
31
Raymond James Financial Services Advisors
Florida
$182K +$22K +1,750 +14%
DI
32
Diligent Investors
California
$181K – – –
First Trust Advisors
33
First Trust Advisors
Illinois
$161K +$26.7K +2,124 +20%
AA
34
AQR Arbitrage
Connecticut
$148K -$42.9K -3,409 -23%
SG Americas Securities
35
SG Americas Securities
New York
$136K +$135K +10,773 New
AG
36
Advisor Group
Arizona
$133K +$7.86K +625 +6%
NGA
37
Naples Global Advisors
Florida
$129K – – –
CG
38
Cutler Group
California
$126K – – –
IA
39
IFP Advisors
Florida
$86K – – –
DADC
40
D.A. Davidson & Co
Montana
$84K +$46.5K +3,700 +123%
Northwestern Mutual Wealth Management
41
Northwestern Mutual Wealth Management
Wisconsin
$79K – – –
SEI Investments
42
SEI Investments
Pennsylvania
$25K +$25.2K +2,000 New
GT
43
Glenmede Trust
Pennsylvania
$24K – – –
US Bancorp
44
US Bancorp
Minnesota
$18K – – –
GAM
45
Gemmer Asset Management
California
$9K +$126 +10 +1%
BCM
46
Blume Capital Management
California
$6K – – –
Citigroup
47
Citigroup
New York
$6K – – –
Northern Trust
48
Northern Trust
Illinois
$5K -$26.6K -2,117 -5%
JMPWA
49
JP Morgan Private Wealth Advisors
California
– -$519K -42,142 Closed
CRC
50
Curi RMB Capital
Illinois
– -$407K -33,054 Closed
1
2
3

VCV Hedge Fund Activity: Q2 2017 in Review

48 of the 4,011 institutional investors tracked by Wall St. Rank reported a position in Invesco California Value Municipal Income Trust (VCV) for Q2 2017, worth a combined $51M — down 17% from $61.1M a quarter earlier.

Sellers outnumbered buyers: 5 funds closed out of VCV and 2 opened new positions — a net loss of 3 holders — while 16 trimmed existing stakes and 14 added.

The largest buyer was Laurion Capital Management, adding an estimated $796K. The largest seller was LPL Financial, cutting an estimated $3.71M.

  • 48 institutional investors held Invesco California Value Municipal Income Trust (VCV) as of Q2 2017, down from 51 in Q1 2017.
  • Funds reported $51M of Invesco California Value Municipal Income Trust stock for Q2 2017, down 17% quarter-over-quarter.
  • 2 funds opened new Invesco California Value Municipal Income Trust positions in Q2 2017 and 5 closed out, a net change of -3 holders.
  • The largest Invesco California Value Municipal Income Trust buyer in Q2 2017 was Laurion Capital Management, an estimated $796K added.
  • The largest Invesco California Value Municipal Income Trust seller in Q2 2017 was LPL Financial, an estimated $3.71M sold.

Based on aggregated 13F filings for Q2 2017.